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Swedish Export Credit Corporation

Swedish Export Credit Corporation. Kingdom of Sweden. Population: 10 million Surface: 450 000 km 2 Capital : Stockholm Language : Swedish, but English widely spoken Political system: Parliamentary democracy Status in Europe : Inside EU, outside Euro

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Swedish Export Credit Corporation

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  1. Swedish Export Credit Corporation

  2. Kingdom of Sweden Population: 10 million Surface:450 000 km2 Capital: Stockholm Language: Swedish, but English widelyspoken Political system:Parliamentarydemocracy Status in Europe: Inside EU, outside Euro Currency: Swedish Krona 2

  3. Public debt to GDP Economy of Sweden Facts Rating: AAA/Aaa/Aaa • GDP growth (Q1 2013), YoY: 1.7% • GDP: USD 545.7bn* • GDP per capita: USD 57 322* • Unemployment (May 2013): 8.2% • Inflation rate (May 2013): -0,2% • Current Repo Rate: 1.00% * USD/SEK per 31 December 2012 6.5156 5 year CDS spreads Source: SCB, Worldbank, Bloomberg, Macrobond 3

  4. Swedish export – 50 % of GDP Trade balance Key export goods Source: SCB, Bloomberg, SEK 4

  5. Well-known exporters 5

  6. The Swedish Export Credit System EKN SEK Funded system

  7. www.ekn.se

  8. Production Delivery Credit period Payments Working capital Contractguarantees Sales process/Negotiation

  9. SEK – Swedish Export Credit Corporation established by the Parliament and 100% owned by the Kingdom of Sweden For more than 50 years, SEK has been the financial partner to the backbone of the Swedish economy – the export industry 9

  10. Our mission is…. …to secure access to financial solutions on a commercial basis for the Swedish export economy 10

  11. We promote Swedish export industry worldwide by… … financing buyers of Swedish goods and services … financing international investments by Swedish companies in Sweden by… … lending to companies involved in export related activities 11

  12. SEK in short • Export finance • Administers the state-supported export credit system, • the S-system, on behalf of the government • Corporate lending • Project finance • Customer finance • Trade finance • Our offer is available in all major currencies • and selected local currencies 12

  13. The Swedish export credit system Exporter – generatesthe deal Bank – arranger The Swedish Export Credits GuaranteeBoard – guarantees SEK – financier 13

  14. Sustainable financing – a high priority for SEK SEK supports Global compacts 10 principles Sustainability risk assessments is an integreated part of SEK credit process “OECD Commonapproaches” for evaluatingprojects Financing of cleantech exports 14

  15. Striving for co-operation • Benefits for you: • Access to substantial financing amounts • Access to long tenors • Signal value • Competitive interest rates • Market rates, floating and fixed • CIRR (Commercial Interest Reference Rate) • Diversification of funding • Exempt from WHT in certain jurisdictions • No ancillary business • Expertise on the Swedish ECA system • Benefits for us: • Global reach

  16. Export Finance • Funding partner • Refinancing/assignment of the transaction • Standardized/simplified documentation • No participation in borrower credit risk • No participation in documentation risk • Co-arranger/co-risk taker • Participation on normal and equal market practice terms • Participation in borrower credit risk • Participation in documentation risk • Funding of whole or part of the transaction • On lending • Framework agreements with local banks SEK supports the transaction irrespective of bankand remains neutral until a bank has been mandated

  17. Interest rate options • Market rates • Normally floating • Can be fixed when all cash-flows have been defined • CIRR rates • Apply before signing of the commercial contract • No cost in connection with application • Possible subsidy compared to market rates • Administration fee of 25 bps p.a. to agent bank • The Swedish CIRR system is funded Option to choose between CIRR and floating market rate up to signing of the loan agreement.

  18. SEK in the Middle East 150 Projects financed 13 offers outstanding today of which 6 in Iraq 18

  19. Contact Details – SEK André Sebelius Director Regional Head of Middle East & Africa andre.sebelius@sek.se +46 8 613 84 61

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